New World Group Signs Pact
To Invest in Chinese Province

Hong Kong's New World Group signed preliminary agreements to invest in a wide range of infrastructure and property projects in China's Sichuan province, with a focus on the city of Chengdu.

The investments, which may eventually surpass US$650 million, mark a major expansion of the Hong Kong property conglomerate's formidable China business. Already, parent New World Development Ltd. and its subsidiaries are among the world's largest...